1. Anyone who lives in Australia knows that the young generation of wannabe homeowners Down Under is apparently being thwarted by two things: $ 4 coffee and avocado toast.
At least, that’s what baby boomers would have you believe.
2. Over the last few months Australian media has been spinning a tale – with help from young property tycoons and expert demographers – that the main reason millennials can’t afford a house is because they’re unwilling to sacrifice their weekend brunch.
Just ignore the fact that the median house price is $ 1.1 million in Sydney, $ 826,000 in Melbourne, and $ 655,000 in Brisbane.
The government recently responded to Australia’s housing affordability crisis by introducing a new initiative that would allow first-time home buyers the opportunity to “salary sacrifice” $ 10,000 of their own money into their superannuation fund, (basically a pension) which they can then use on a house deposit later down the track.
BuzzFeed News was told just last week that the scheme would only drive up house prices.
3. But on Monday, things really kicked off. Young millionaire property mogul Tim Gurner was the latest to wade into the “avocado toast” debate, telling 60 Minutes that young Australians “need to get realistic about [their] expectations”.
Tim Gurner believes our housing crisis will be resolved when young Aussies inherit the ‘incredible wealth’ from the… https://t.co/aIQ8adN81f
— 60 Minutes Australia (@60Mins)
4. Gurner’s words were quickly mocked by Australians on social media, who were keen to mention the fact that the young property tycoon actually got his start using $ 34,000 that was given to him by his grandfather.
#TimGurner thinks if I skip coffee and smashed avocado I can buy a house. Coming from a man who inherited $ 34k from his grandfather.
— Shri Rajen (@ShriGRajen)
This while smashed avocado avoidance to buy house thing is still annoying me. Firstly, why the fk do they always pick on smashed avo aye
— Mostafa Rachwani (@Rachwani91)
Oh I see ‘avocado on toast as the scapegoat for pillaging millenials’ ability to afford a house’ has inexplicably made it to the US
— Matt Cramp (@merusworks)
7. And now America is in on the act too. Yep, after months of the avocado toast debate being isolated to Australia, it has finally gone global.
There is no such thing as “avocado toast.” That is not a real thing. Fuck off
— Virgil Texas (@virgiltexas)
9. As did Newsweek…
Millennials should quit moaning about house prices and stop buying avocados and coffee, Australian millionaire says… https://t.co/TU7XLZ24lG
— Newsweek (@Newsweek)
10. And Time Magazine wrote a piece about Gurner’s advice and the response was pretty similar to the one he received in Australia: routine mocking.
Millionaire to millennials: Stop buying avocado toast if you want to buy a home https://t.co/JVpbiLrvv5
— TIME (@TIME)
why are rich people mad about avocado toast bitch you spent $ 16 billion on cronuts
— LENIN_LOVER69 (@PissPigGrandma)
I was gonna put a down payment on a house last year but then I spent $ 44,000 on avocado toast https://t.co/SvSEisua71
— Jennifer Albright (@albrightjc)
Millennial dragon, guarding its treasure hoard of avocado toast and rideshare apps, but no diamonds to speak of
— JuanPa (@jpbrammer)
Monthly expenses
Transportation: $ 120
Food: $ 500
Clothing $ 200
Avocado toast: $ 35,000
Someone good at the economy please help me budget this— Murtaza Hussain (@MazMHussain)
Alright, I did the math. If I stopped eating avocado toast every day, I would be able to afford a bad house in Los… https://t.co/4hoSWRviu9
— Kaleb Horton (@kalebhorton)
16. Congrats Australia, we’ve gone and given something awful to the rest of the world for once.
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